The Hindu·3 min read·medium
Favara-UPI cross-border payment corridor goes live between Maldives, India
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PTI
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The Maldives and India have launched a cross-border payment integration between the Maldives' 'Favara' system and India's Unified Payments Interface (UPI). This allows individuals to make real-time person-to-person transfers between the two nations using mobile banking apps.
NPCI International Payments Ltd (NIPL) and Maldives Monetary Authority (MMA) have announced the successful go-live of the integration between the Maldives’ Instant Payment System 'Favara', and Unified Payments Interface (UPI).
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